Southern Moving Into Wind Power With Deal for 299-Megawatt Plant

Southern Co., the owner of Georgia’s biggest publicly traded utility, is expanding into wind power with its largest renewable-energy purchase to date.

Southern’s first acquisition of a wind farm is expected to close in late 2015 when the 299-megawatt Kay Wind project in Oklahoma is complete, according to a statement Tuesday. Terms weren’t disclosed.

Adding Kay Wind gives Atlanta-based Southern more than 970 megawatts of renewable-energy capacity in operation or under development.

Apex Clean Energy Inc. is developing the project and Blattner Energy Inc. is building it. Kay Wind will use 130 Siemens AG turbines and generate enough electricity to power about 100,000 homes.

Westar Energy Inc. has agreed to buy 199 megawatts of Kay’s output and Grand River Dam Authority will purchase the remaining 100 megawatts, under 20-year contracts. Both companies also will get the associated renewable-energy credits.

Apex, based in Charlottesville, Virginia, arranged a $397 million construction loan for the project, according to an e-mailed statement. Bayerische Landesbank and Rabobank jointly led the debt financing. Terms weren’t disclosed.

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